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Forex Flash: EUR/USD to remain headline driven - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank believes that EUR/USD will remain headline driven in the near term ahead of Thursday's ECB meet.

He notes that the continued failure to challenge the 200D MA at 1.2888 and 1.2750, and 1.2670, may continue to beckon if the ECB turns increasingly cautious on Thursday. Moving to GBP/USD, he notes that yesterday´s manufacturing PMI reignited bearishness towards the pound, and also a higher EUR/GBP, and the services PMI and BOE meeting on Thursday are expected to present key event risks for the pair in the near term. He writes, “Expect a top heavy profile to persist within a 1.5000-1.5400 band.”

UK: PMI Construction contraction slows down slightly in March

UK PMI Construction increased to 47.2 points in March, from 46.8 points in February, according to data released today by Markit. The result is slightly below market consensus of 47.5 points.
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Forex Flash: Commodity Currencies mixed - UBS

Gareth Berry and Geoffrey Yu of UBS have taken a technical look at Commodity pairs this morning and see a mixed outlook.
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